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Do we need extra due diligence because there are lots of consumers out there looking to mislead you? No. We need to do extra due diligence because fraud can often occur because of an omission that a homeowner sees as innocent. More commonly, some homeowners aren’t even aware of some matters as they relate to their homes.
In the spirit of Fraud Awareness Month, we thought we’d cover some ways that you can use your tools to dig deeper and know everything possible about a deal you are working on.
A big part of catching potential fraud is independently validating the information provided to you. In many instances, issues can come up that are not fraud but could impact your deal. Mitigating fraud has the side benefit of giving you the ability to learn more about your deals and to help your client through resolving challenges.
Even if something does come up on a deal where a client has withheld something, such as not telling you about a lien – finding out through the course of due diligence improves the level of service you offer. A lien won’t go away by itself, so you knowing about it means that you can help the client figure out what to do about it.
Being aware is your first step towards combatting real estate fraud. GeoWarehouse has the tool that make that easy. Visit www.geowarehouse.ca today.